(Reuters) – Westpac Banking Corp said on Friday that it started legal proceedings against Forum Finance after it discovered a potential fraud regarding equipment leases arranged by the financial services provider for the lender’s customers.
Australia’s no. 2 bank has a potential exposure of around A$200 million ($149.22 million) after tax with the extent of loss depending on the outcome of an investigation into the alleged fraud, it said in a statement.
($1 = 1.3403 Australian dollars)
(Reporting by Sameer Manekar in Bengaluru, Editing by Sherry Jacob-Phillips)
